Fidelity Investments, a US-based fund-manager, has appointed Charles Morrison as new president of asset management, replacing Ron O Hanley, who will quit the firm at the end of this month.
In his new role, Morrison will lead Fidelity’s investment divisions, which collectively manage $1.9 trillion in retail and institutional assets for investors.
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Based in Boston, Morrison will be reporting to Abigail Johnson, president of financial services at Fidelity Investments.
Morrison, who joined Fidelity in 1987, most recently served as head of Fidelity’s US$750 billion fixed-income division.
Morrison appointment follows the firm’s plans to shift emphasis to its recordkeeping, retirement and brokerage businesses.
Johnson said: "Charlie’s diverse experience during his 27 years at Fidelity positions him well to advance our asset-management business by continuing to deliver strong, consistent performance across all asset classes, sharpening our global investment focus, and offering innovative products that help deliver better outcomes for our clients."
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